The Reserve Bank of India ( RBI) will continue to take steps to stabilise the rupee, Subir Gokarn, a deputy governor at the central bank, said yesterday (May 21, 2012).
The rupee fell below the key psychological level of 55 against the dollar to hit a new record low earlier yesterday, setting up the prospect of further falls unless the central bank takes measures or intervenes more aggressively, traders said.
Mr Gokarn also said the RBI was likely to buy bonds through its open market operations (OMOs) this week.
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The rupee fell below the key psychological level of 55 against the dollar to hit a new record low earlier yesterday, setting up the prospect of further falls unless the central bank takes measures or intervenes more aggressively, traders said.
Mr Gokarn also said the RBI was likely to buy bonds through its open market operations (OMOs) this week.
....more info